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Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
 Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Ratings says.
Market expectations of oversupply and weak gas prices have curtailed new investment activity in the sector in the past two years. Limited capacity additions beyond 2020 should be positive for spot prices, especially in Asia and Europe. This will benefit LNG projects with significant uncontracted volumes and those linked to gas spot prices.
An unprecedented wave of new projects becoming operational in 2016-2019 has not resulted in, and is unlikely to result in a material surplus in the LNG market in the medium term. Additional LNG volumes continue to find a home across a diverse array of countries and new buyers, and under more flexible contracts.
Funding for new LNG capacity is often structured as non-recourse project finance and is dependent on sponsors’ ability to secure long-term offtake agreements, which buyers have been less willing to sign in anticipation of larger volumes of uncontracted LNG coming to the market. Therefore, sponsors may need to commit a higher equity contribution to get funding for LNG projects, which will continue to delay final investment decisions (FIDs) for some time. A typical timeframe for a new LNG project to become operational following the FID is four to five years. Due to limited new FIDs very few new projects will come on stream in the early 2020s. FIDs in the next one to two years are likely to be limited to projects with lower capital and operating costs given constraints on the funding side.
We expect gas demand to continue its robust growth in the coming years, mostly driven by Asian markets that account for two-thirds of overall LNG demand. This is due a combination of healthy power demand growth in the region, natural gas being the fossil fuel of choice in pursuit of curbing air pollution, and the backlash against nuclear energy. Japan is currently the largest LNG importer, but China is catching up quickly and becoming the major market for LNG.
The LNG market could shift into deficit by 2022-2025. Gas pricing is therefore likely to improve in the major importer markets, benefiting LNG projects relying on spot and hub pricing and entities with significant LNG trading portfolios. We also expect oil companies to gradually return to their earlier LNG ambitions. This includes oil majors, like Shell, BP and Total, most of which emphasise the growing role of gas in the global energy mix.
The LNG market is still in its formative stage. Pricing mechanisms, contract terms and financing structures continue to evolve. Long-term oil-linked contracts are giving way to increased trading activity, which represented around a quarter of all new contracts in 2017, according to IGU World Gas LNG Report, compared to just 1% in 2012. New large LNG projects still rely on long-term contracts in order to secure financing. However, elsewhere contracts are becoming shorter, and the quality of counterparties is declining. Contract prices are increasingly de-linked from oil pricing with a growing focus on spot and hub-based gas pricing.
Fitch-rated rated LNG projects will not be significantly affected by the trend towards increasing commoditisation. In the US, rated projects, such as Cameron LNG and Sabine Pass, benefit from robust contractual frameworks that provide mitigation to completion risks and often employ tolling or tolling-like arrangements that protect cash flows from volume and price risks. RasGas in Qatar mostly relies on long-term oil-linked contracts.
Source: Fitch Ratings
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Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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Showing 1596 to 1600 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
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